GAAS vs GAAP
In the age of globalization, it is very important that companies properly prepare their financial statements. Moreover, their financial statements should be such that… Read Article
GAAP
Importance of GAAP
GAAP (Generally Accepted Accounting Principles) is a set of rules and guidelines that tell a company how to prepare financial statements. All companies, whether… Read Article
Leasehold Improvement GAAP
A Leasehold Improvement is the changes made to a rental property in order to meet the needs of a tenant. There can be various… Read Article
Discontinued Operations – Meaning, Disclosure And More
Discontinued Operations are that part or portion of a company’s core product that no longer functions. Also, these parts are either held for sale… Read Article
US GAAP – Meaning, History, Importance And More
Generally Accepted Accounting Principles or GAAP is also known as US GAAP as it is in use in the US. These are the set… Read Article
Extraordinary Items Under GAAP – All You Need To Know
Extraordinary items in accounting are an event or transaction that does not relate to normal business activity and occur rarely. The treatment of extraordinary… Read Article
GAAP vs IFRS – All You Need To Know
Initially, many countries developed their own accounting standards. All these standards were different from others in a way that each had a different approach,… Read Article
GAAP Accounting – All You Need To Know
Generally Accepted Accounting Principles or more widely known as GAAP, is the set of accounting standards. Organizations use the GAAP principle to record and… Read Article
GAAP
What is GAAP?Generally Accepted Accounting Principles (US) are the commonly followed and accepted set of rules, procedures, and guidelines adopted by SEC (Securities and… Read Article
Difference between Cash and Accrual Accounting
What are the differences between Cash and Accrual Accounting?Cash and accrual accounting are the two methods of accounting used by businesses to record transactions… Read Article